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Wednesday, April 15, 2015

Cheap Oil = New Plastic

by Jordan Berkley

I was recently listening to a story that aired on NPR’s Morning Edition entitled “How The Price
Of Oil Caused A Downturn In The Recycling Business”. The April 3 2015 story
speaks to the issue of cost, obsolescence, and sustainability with regards to
recycling and oil production. As explained by Stacey Vanek Smith from the
Planet Money team, “The price of oil has dropped 50 percent in the last year.
Plastic is a petroleum product. When oil gets cheap, it makes more sense for
companies to buy freshly made plastic than recycled plastic. The freshly made
stuff is cheaper.” (Smith) In light of this problem, we have to ask how we can
make the more expensive recycled materials attractive to the cost crazed
market? How can we avoid planned obsolescence with regards to new, cheaper oil?